Steve Green

Story Archive

Pinto Ranch has made a name for itself by doing things different than other Western wear retailers. That won’t change during the 2012 Wranglers National Finals Rodeo. As a high-end retailer, Pinto Ranch will continue to sell items at its Fashion Show mall store and will participate in special events at the LVH and Hard Rock Hotel. But don’t bother looking for the company’s goods at Cowboy Christmas or Stetson Country Christmas.

Mike Mixer predicts that upwards of $1.5 billion will be invested in the Las Vegas gaming market over the next two years. Mixer is the head of a new national gaming group established last summer by commercial real estate brokerage Colliers International.

The online unit of Caesars Entertainment Corp. of Las Vegas today was recommended for licensure as an online intrastate poker operator in Nevada. At a meeting in Carson City, the State Gaming Control Board voted to recommend a license for Caesars to the Nevada Gaming Commission.

Litigation over the flawed Harmon Hotel tower at CityCenter will continue well into 2014 under a court order issued Monday. A judge set a June 24, 2013, trial on CityCenter payment issues and a separate trial beginning Jan. 6, 2014, on the Harmon defect claims.

MGM Resorts International of Las Vegas today announced the promotion of Bill Hornbuckle to the newly-created position of president and chief marketing officer. Hornbuckle will have expanded responsibilities, including gaming development. He had been serving as chief marketing officer since 2010.

Las Vegas-based casino supplier Galaxy Gaming Inc. on Tuesday stepped up its defense against a Bank of America lawsuit, publishing an open letter on its website to the bank’s CEO complaining about the legal action.

The state Gaming Control Board has filed a complaint against the old Leroy's race and sports book chain over problems including the alleged unauthorized acceptance of bets on the 2012 Kentucky Derby from certain locations.

Las Vegas-based casino supplier Gaming Partners International Corp. today announced plans to return $1.48 million to shareholders through a one-time special dividend of 18 1/4 cents per share payable Dec. 18.

Third-quarter financials are in for the Las Vegas gaming industry, and they show continued difficulties for two of the valley’s three main casino sectors. While most high-end Strip resorts saw profits in the quarter ending Sept. 30, mass market Strip casinos struggled, as did locals casinos. The Strip’s budget properties faced an uphill battle trying to get recession-weary customers to part with their dollars. Some of the casinos also played unlucky, meaning they didn’t win as much as usual from gamblers.

With negotiations to avert the fiscal cliff having reported ups and downs, the broader stock market rose slightly and stocks of Las Vegas-based companies mostly increased this week from their closing prices on Nov. 23.

Newage Lake Las Vegas LLC has purchased the Ravella at Lake Las Vegas hotel and the adjacent Casino MonteLago in Henderson, Clark County records show. The company bought the 13.84-acre Ravella site and the 1-acre Casino MonteLago site on Nov. 21 for $46.859 million from a subsidiary of Deutsche Bank, records show.

Bill’s Gamblin’ Hall & Saloon on the Las Vegas Strip will close Feb. 4 for renovation into a boutique property and is expected to reopen in early 2014, owner Caesars Entertainment Corp. said today. Caesars has lined up $185 million in financing to renovate the 199-room property.

After a long and secretive investigation involving federal agencies and Nevada gaming regulators, a defunct Las Vegas company pleaded guilty last week to an illegal gambling charge related to offshore sports wagering.

Jeffrey Soffer, the Miami businessman behind some of the largest developments in Las Vegas, is reported to have suffered minor injuries Thanksgiving day in a helicopter crash that left one person dead.

Depending on how the U.S. economy performs, Strip resorts next year could see revenue from all sources increase as much as 5.3 percent or decline as much as 8 percent, a group of analysts said Thursday.

The Riviera in Las Vegas posted a wider loss for the third quarter, mainly because of a noncash expense to write down the value of its assets. The 2,075-room Strip property said today it lost, on paper, $19.6 million vs. the $4.9 million lost in the year-ago quarter.

The CEO of Las Vegas-based casino supplier Galaxy Gaming Inc. today accused Bank of America of “bullying tactics” that have caused unnecessary scrutiny by gaming regulators, and he reported that Galaxy is countersuing the bank in a dispute over a $1.1 million loan.

Cannery Casino Resorts LLC’s loss widened in the third quarter as gamblers spent less at its two Las Vegas-area casinos. A regulatory filing today said revenue for the firm in the quarter ended Sept. 30 fell from $135.6 million to $119.5 million.

Las Vegas locals casino operator Station Casinos today reported a profit for the third quarter as revenue increased. The company also said it’s acquiring a controlling interest in Fertitta Interactive.

Las Vegas casino supplier Galaxy Gaming Inc. said today it swung from a third-quarter loss to a profit because of higher sales. The company sells casino table games and associated systems. Galaxy said third quarter revenue of $1.9 million was up from $734,000 in the year-ago quarter.

The stock of Las Vegas-based casino operator Pinnacle Entertainment Inc. slumped today after the company disclosed problems and potential delays with a Vietnamese gaming resort in which it is investing.

The Cosmopolitan of Las Vegas reported growth in sales and a smaller loss for the third quarter, despite lower casino revenue. The 2,966-room Las Vegas Strip resort opened during the down economy in December 2010.

Casino supplier International Game Technology today reported a higher profit for its fourth fiscal quarter as revenue improved from slot machine sales to land-based casinos, as well as from social and online gaming.

The lack of an operating nightclub last summer at the Tropicana Las Vegas caused the resort's third-quarter revenue to decline, the company reported today. The 1,375-room hotel-casino said quarterly net revenue for the period ending Sept. 30 came in at $22.4 million, down from $24 million a year earlier.